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Tag: Kapitalmarkt

  • Online marketplace operator aims to be listed on the Swiss stock exchange

    Online marketplace operator aims to be listed on the Swiss stock exchange

    SMG Swiss Marketplace Group AG has announced an initial public offering on the SIX Swiss Exchange. According to a press release, the IPO is intended to provide shareholders with liquidity options and give SMG access to broader capital markets to support potential growth initiatives and increase financial flexibility. At the same time, this should further strengthen the Group’s market position and increase brand awareness. The exact timing of the IPO has not yet been finalised and will depend in particular on market conditions.

    The shares are to be sold by two of the Group’s current shareholders, Mobiliar and Ringier. The offering is expected to be conducted as a public offering in Switzerland and in other countries in the form of private placements to certain qualified investors. The shares of the Group are expected to be admitted to trading on SIX and fulfil the minimum free float requirement of 20 percent. Goldman Sachs, J.P. Morgan and UBS will act as global coordinators and joint lead managers for the IPO, according to the press release.

    “With a clear value proposition, a trusted brand portfolio and strong local expertise, we are well positioned to deliver even greater value to millions of users,” commented Christoph Tonini, CEO of SMG. “By investing in pioneering technologies, we want to set new standards for Swiss online marketplaces.”

    SMG was founded in 2021 as a joint venture between TX Group AG, Ringier AG, Schweizerische Mobiliar Versicherungsgesellschaft AG and General Atlantic SC B.V. and has since established itself as a leading online marketplace in Switzerland. In 2024, SMG generated revenue of CHF 290.9 million and earnings before interest, taxes, depreciation and amortisation of CHF 139.2 million.

  • Refinancing ensures stability and scope for investment

    Refinancing ensures stability and scope for investment

    Construction and real estate services provider Implenia AG has successfully placed a bond for CHF 220 million, according to a press release. The fixed-rate, non-subordinated bond was issued at par with a term of four years and an interest rate of 2.50 per cent. The bond is to be admitted to trading and listed on the SIX Swiss Exchange.

    The settlement of the bond, i.e. the mandatory accession of investors, is expected to take place on 30 April, it is further reported. UBS AG, Commerzbank Aktiengesellschaft, Raiffeisen Schweiz Genossenschaft and Zürcher Kantonalbank acted as joint lead managers (JLMs) and bookrunners or lead managers for the issue. JLMs are responsible for marketing the securitisation to investors and for executing the transaction on time and on budget.

    The issue proceeds will be used for general corporate purposes, according to the press release. This also includes the refinancing of existing debt, such as the repayment of the CHF 175 million bond maturing on 26 November 2025 and the EUR 30 million promissory note maturing on 9 June. The successful issue will enable Implenia to further strengthen the company’s financing structure, according to the press release.

    As a construction and real estate services provider, Implenia develops, realises and manages living spaces, working environments and infrastructure for future generations in Switzerland and Germany, the company said.

    Headquartered in Opfikon, Implenia employs over 9,000 people across Europe and generated sales of 3.6 billion Swiss francs in 2024.

  • Europe needs more capital for start-ups

    Europe needs more capital for start-ups

    Europe’s economic strength depends to a large extent on technological innovation. However, access to capital remains a challenge for many start-ups in the growth phase. The new study “Mapping investors for European innovators”, published by the EPO’s Patent and Technology Observatory, shows that private and public investors play a crucial role in promoting new technologies. Compared to the USA, however, there is a lack of capital in Europe for later financing phases, which hinders the growth of innovative companies.

    Technology Investor Score as a guide
    To make it easier for technology-oriented companies to find investors, the EPO is introducing the Technology Investor Score. This new indicator shows the proportion of companies with patent applications in an investor’s portfolio. The TIS helps start-ups to identify suitable partners and promotes targeted investment in technological innovations.

    The study analysed over 6100 investors in Europe and 8000 investors in the USA and shows that 88% of European investors have companies with patents in their portfolio. However, only 8% of these investors focus primarily on start-ups with patents. A clear sign of restrained capital flows into innovative growth companies.

    Europe needs to invest in scaling
    A key problem in the European innovation ecosystem is insufficient funding in the late stages of development. While public investors such as the European Innovation Council, the European Investment Bank or national innovation agencies strongly support early-stage financing, there is a lack of private investors for scalable start-ups in Europe.

    The analysis shows that 62% of the 100 largest European private investors focus on early-stage financing, while only 22% invest in later stages. In comparison, 98 of the top 100 investors in the US are private investors, of which more than half invest specifically in scaling start-ups. This funding gap in Europe means that promising technology companies are moving abroad to find better conditions for growth.

    Targeted solutions for more access to capital
    To overcome these challenges, the EPO has added a new filter function to its Deep Tech Finder. The free online tool enables start-ups to conduct a targeted search for investors based on criteria such as financing phase, location and technology focus. This enables technology-driven companies to efficiently find investors who specialise in their specific needs.

    In addition, the Observatory for Patents and Technology offers a new information platform that provides detailed insights into financing strategies, investor profiles and the use of patents to raise capital. The aim is to support start-ups and SMEs so that they can realise their full innovation potential.

    Strengthening Europe’s innovative power
    The results of the study underline the need to optimise financing structures in Europe. Public funding alone is not enough to ensure the transition from idea to market maturity. More private capital is needed for later growth phases in order to keep innovative companies in Europe and remain competitive in the long term.